Pilbara Minerals goes into trading halt after site ‘incident’
Niyati ShettyAAPMonday, 11 November 2019 11:04AM<img src="https://images.thewest.com.au/publication/B881378848Z/1573449210197_GC12GF4H0.1-2.jpg" alt="Pilbara Minerals’ Pilgangoora site." class="css-s8hxba" />Camera IconPilbara Minerals’ Pilgangoora site.
Trading in shares of Pilbara Minerals has been halted pending an announcement from the lithium miner regarding an incident at a site that requires investigation.
Pilbara, which operates the Pilgangoora and Mt Francisco lithium-tantalum projects near Port Hedland, requested the halt until the start of trading on Wednesday.
Shares in the miner were down as much as 3 per cent in early trade before the halt was put place.
They last traded at 32.5¢
In August, Pilbara Minerals was forced to cut 36 jobs from its Pilgangoora project and its head office in Perth amid a depressed lithium market.
Pilbara had told mining contractor MACA to suspend operations at Pilgangoora but said key mining equipment remained on-site and personnel were on standby to remobilise as required.
The Ken Brinsden-led miner had previously stated that it would mine and process its ore on a campaign basis as its customers delayed deliveries of spodumene and stockpiles built up.
It came as the company announced a $111.5 million capital raising backed by a $55 million investment from China’s biggest battery maker CATL.
It also flagged a staggered, scaled-back stage two expansion of Pilgangoora that would lower initial upfront costs and bring on extra capacity more gradually.
Spodumene prices have plunged about 40 per cent in the past year amid an oversupply, after delays in the expansion of chemical conversion capacity in China caused partly by a change in the country’s electric vehicle subsidy regime.
Reuters
Ann: Trading Halt, page-122
-
- There are more pages in this discussion • 128 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add PLS (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$2.89 |
Change
0.040(1.40%) |
Mkt cap ! $8.703B | |||
| Open | High | Low | Value | Volume |
| $2.78 | $2.89 | $2.78 | $29.90M | 10.51M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 39193 | $2.88 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.89 | 73947 | 7 |
View Market Depth
| Last trade - 16.10pm 01/11/2024 (20 minute delay) ? |
| PLS (ASX) Chart |